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Live. The US Treasury

Secretary outlines plans for

tighter financial control.

North Korea threatens to

withdraw from nuclear disarmament talks. Barack

Obama poised to outline his

new strategy for Afghanistan

and Taiwan's former president

goes on trial accused much

Beverley O'Connor with ABC corruption. Good morning.

News for Australia Network -

The US Treasury Secretary

Timothy Geithner has outlined

plans to strengthen the Government's authority over

the financial regulation

system. He has proposed the creation of a single

regulator the oversee

financial institutions,

services and markets as well

as all hedge funds and

derivatives. It is a plan to overhaul financial regulation

the US says will help deliver

a better, tougher and smarter

system To address this will require comprehensive reform,

not modest repairs at the

margin but new rules and the

new rules must be simple and new rules must be simple and effective. The new rules

would include appointing a

single regulator with the job

of controlling all of America's key financial institutions. The Government

would have the power to peer

into the in yeah workings of

companies like AIG and if

they are deemed too big the

fail they would be subjected

to stricter capital requirements and closer

scrutiny Our system, the

institutions and the major

centralised markets must be

strong enough and resilient

enough to withstand severe

shocks and the failure of one

or two institutions Timothy

Geithner has told the house

commit question he wants the regulate the Wall Street

hedge funds as well as the

financial derivatives that

helped trigger the market

crash add has stressed the

importance of a globally

approach Markets are global

and high standards at home

need to be come my meanted by strong international standards enforced more

evenly and fairly. We as a

nation have already pre gun

the critical work this will

lead to our economic

recovery. President Obama was

fielding online questions

designed to open up the White

House to the American people

There was one question voted

on that ranked high which was

whether legalising marijuana

would improve the economy.

The answer is no, I do not

think that is a good strategy. Other possible

strategies will be discussed when the President meets G20

leaders next week. North

Korea says it will withdraw

from nuclear disarmament

talks immediately if the

international community

punishes it for launching

what Pyonyang says is a

satellite but sources in

Japan and the US in sits

North Korea is ready toes the

at ballistic missile and warn

of serious consequences if it

leaves the ground. Pyonyang

is warning of strong steps if

any part of the international

community interferes in what

it continues to be a

satellite launch. It says it

will not accept criticism Security Council. from the United Nations

TRANSLATION: Even a single

word critical of the launch

had in the form of a

presidential statement are a

press statement will be

regarded as a blatant hostile act against North

Korea. Pyonyang says any

attempts by the United

Nations to punish it for the

lawn would much have

immediate consequences.

TRANSLATION: The six-party

talks will come to an end.

All the processes for the denuclearisation of the

Korean peninsula pushed forward so far will be

brought back to what they brought back to what they

used to be before their start and necessary strong steps

will be taken. South Korea

says lit stake the matter to

the UN Security Council if

the north proceeds regardless

of a satellite or missile

launched and the US continues

to urge Pyonyang to rethink

A launch of any type of

vehicle is in violation of US

Security Council resolutions

and this provocative type of

action would be in violation

of those and would not as the

secretary said go unnotice

US intelligence officials say

the rocket is positioned on a

launchpad ready for fuelling

and could be launched in

three days. The north faces a

range of UN sanctions if it

goes ahead. US officials say

President Obama is planning

to send additional 4000

troops to Afghanistan the train will security forces.

The de employment would take

the number of US troops in

the country to 59,000. It is

part of a new strategy the

President will outline in a

Mick statement to the

American people later today.

The President says his

priority is to ensure

Afghanistan does not become a

base for terrorists intend on

attacking the US but 7 years

after American-led forces

toppled the Taliban after

accusing them of protecting perpetrators of the September

11 attacks Barack Obama's

choice for US ambassador to

Afghanistan says a refocus is

needed. We do not have an

unlimited amount of time here

Senator Kaufman, time is not

necessarily with us unless

unless we develop or in meant

a more effective strategy

Taliban-led attacks have increased dramatically over

the last years and the

general says a new strategy

requires more help from

allies While success in

Afghanistan and Pakistan

despite US national security

interest it is also a global

security concern and

accordingly we must redouble

our effort to begin additional contribution from

our allies and whether the

international community . The

Afghan Government is under

pressure to improve

conditions in the country.

President Khazi has been

directly targeted and accused

of corruption but he has

rejected the allegations and

lashed out his Western

critics Afghanistan has been defamed in terms of

corruption but it is not as

serious as they think. I know

this. Iran will attend an international meeting in the

Hague next week to discuss Afghanistan including the

US's Government's new

strategy. Pakistan is urging

the US to think again before

using unmanned drones to launch attacks on its

territory. Pakistan's Foreign

Office says a series of

attacks near the Afghan

border have been counter

productive. Barack Obama is

reviewing American policy in

Pakistan as well as

Afghanistan. The US says

success in Afghanistan is impossible without tackling

militant enclaves in North

Western Pakistan. A suicide

bomber has struck a

restaurant in north-west

Pakistan killing at least 12

people. Officials say the inn

is often frequented by

militants opposed by the

Pakistan Taliban leader. Peel

were eating in the large open

area when the suicide bomber

blew himself up. The town has

a history of violence and is

a great way to the lawless

tribal areas. Taiwan's

president is being tried for

corruption. He says the

charges against him are

politically motivated. Handcuffed and pleading his

in owe steps the former

Taiwan leader arrived at a

courthouse from a detention

centre he has been held since

December. He looked tired and

thin as he was escorted into

the courtroom amid high

security TRANSLATION: The

will start with cross-examine formal trial has begun. We

at the beginning of the

trial. Chen Shui-Bian is

accused of receiving bribes

and taking money from

presidential fund. Chen

Shui-Bian has repeatedly

denied the charges saying

they are part of an effort by

the President and the

Nationalist party the carry

favour with rival China.

Millions of Taiwanese have

been engrossed by the

spectacle of the former

leader being accused of the

same type of scruption he

pledged to eradicate when he

first ran for president in

2000. TRANSLATION: This is

quite a good legal education

the people of Taiwan. And he

says prosecutors must present

concrete proof of con syringe

him of taking

bribes TRANSLATION: If this

case is taken properly it case is taken properly it

will lift Taiwan's

standing. He could face life

behind bars. Facing charges

are his wife, son and daughter-in-law. In all 13

people are accused of em

bells lment, taking bribes

and money laundering. You're watching ABC News for

Australia Network coming up,

Australia caught in the

middle of with super powers

and reassurance from India

that next year's Commonwealth

Games in Delhi are right on track.

The Thailand Government

is handing out checks to the

low-income earners. The first

of the $55US checks were handed out by the Thailand

Prime Minister. We hope lit

create an atmosphere where

there will be a lot of

spending over the next few

months. The country's economy

grew 2.6% in 2008 but its

performance is expected to

contract by 2.5% this year.

It has largely been blamed on

a slide in the export sector

in the last four months but the Government and industry

are hopeful the cash

injections will have an

immediate impact. When

people get this money then

use it just only buying for

example a pair of shoes or

clothes that will help back

to the factory the producer

of the clothes then it will

be like a chain supporting chain for the whole industry. The package is

expected to increase economic

growth by 0.2 of a per cent

and most people seem eager to

spend the cash. This man says

"I don't know what I will do

with it but probably I will

spend it on things for daily

use". Another person says "Ly

spend it on the family". The

money has been given the

people who earn less than

$424US a month. The first lot

of $5.5 million is being

handed out now and will be

followed by another $1.2

million through the months of

March and and. Meanwhile

tens of thousands of

protestors have surrounded

office of the Thailand Prime

Minister and demand his

resignation. It is the latest

in a series of rallies by the

red-shirt supporters of the exiled exiled former Prime Minister Thaksin Shinawatra. Thaksin Shinawatra delivered a brief

address to the crowd by

telephone an thanked them for

their support. Wearing the

familiar red shirts of

Thaksin Shinawatra supporters

around 35,000 protestors surrounded Prime Minister's

office at Government House in

Bangkok calling for the current Government to stand

down. And they are planning

the stay for several days.

Their first action was the

use cranes to get rid of the shipping containers police had used to block off the

roads around the complex. The protestors say the Government

came the power illegally and want Parliament and the

results of the last election

dissolved. The ally is the

latest in a series of the

protestors seizing on toy

land's economic woes as an

excuse to take their demands to the streets

again TRANSLATION: We are

looking for justice, we cannot stay thin situation in

Thailand, the Government is

ignoring and intend to do

nothing with the PAD people

who commit crimes. Police

stepped up security say they

are not expecting trouble.

The PM has ruled out imposing

a state of emergency but says

whatever happens authorities

are ready to cope. Government

House was occupied for months

last year by antitax and

protestors who then moved on

to Bangkok airports par

liesing the tourism sector.

A car bop has exploded

near a crowded market area in

Baghdad killing 20 people. 30

others were wounded in the

explosion at the bus terminal

surround by shops in the

Shiite district of Shahab. It

is the fifth major attack in

Iraq and comes a day after

the day the minister said the

bombings had faulten to

levels not seen since March

2003. The convicted producers

of poison milk that killed 6

babies in China are appealing

against their death

sentences. Another 300,000

children became sick after

drinking milk lace would the industrial chemical melamine. Four people

involved in China's tainted

infant milk scandal have appealed against their

sentences, to received the

death penalty and the two

others hefty prison

sentences. According to the

Wire service one appeal has

been dismissed. He will now

be executed and have all his

personal property

confiscated. Last year 22

Chinese dairy producers were

found to have added the

harmful chemical Melbourne

million the their products to

artificially boost protein

levels. The first and biggest

was San Lu wlos former head

boss been jailed for life.

With the judiciary completely

controlled by the Communist

Party appeals in China's

court system often fail.

court system often fail.

There are fears Australia

could get caught in the

middle of a power struggle

teen China and the US as both countries move to assert

their authorities in the

Asia-Pacific. China's latest

do fence policy paper has

taken the unusual step of

identify in America's

military involvement in the

region as a potential cause

of conflict. It leaves

Australia to jug tell competingam British ones competingam British ones of

its closest ally an its

biggest trading partner.

China is being more candid

than ever boots military

ambition. Its latest defence policy paper knowledges there

is a regional arms race under

way. China's undoubtedly

leading the way. More than

quadrupling its military

spending over the paths deck as it

as it it is parts of are - it

is clear that part of Chinese

thinking is lit have the

ability to take on the US if

it needs to do so. The paper

makes it clear that China

views the US with deep

uncertainty especially its

growing involvement in the

Asia-Pacific. It adds up the

a difficult balancing act for

Australia as it juggles Australia as it juggles the

growing ambitions of its

largest trading partner and

its reliance on the US as its

closest strategic ally. Defence analysts see only one answer Probably the bottom

line for Australia is that we

need to help knee gauche why

it a regime in which the US

can gracefully concede some

ground the China But it is

Pa power struggle the Foreign Minister

Minister is inclined not to

get in the middle of We not

a super power and we do not needing-betweens. But during his visit to Washington Kevin

Rudd assumed the role of

interpreter. He is actively

seeking to placate American

suspicion boss China's

growing power. Instead urging

them the see it as a

opportunity. When you look

at China in the future I do not think anything not think anything is to be

served by simply assuming it

is all going to go bad. A key

part of Kevin Rudd's strategy

is getting America to em

brace a larger role for China

on the world stage They are

not perfect. They have done

some bad things in the past.

But let's look at the

opportunities rather than

simply assume it is all

threat and risk. The greater

risk he says is alienating a

large. Super power. The

police are to investigate

claims by the former

Guantanamo Bay detainee

Binyam Mohamed he was torture

would the knowledge of the British intelligence. Binyam

Mohamed claims MI5 knew about

the torture he suffered at the hands of the Americans. The British Government says

he does not participate in torture or support his use. torture or support his use.

This was Binyam Mohamed last

month arriving back from

Guantanamo Bay returning to

Britain after 7 years in

detention a suspected terrorist who never stood

trial. During those 7 years

he claims he was tortured in

Pakistan and Morocco with the

collusion of the British

security services. This

afternoon the

Attorney-General Baron nets

Scotland who has seen the

evidence asked the police to

investigate -

Binyam Mohamed claims while

being mistreated in Pakistan

he was questioned by an MI5

officer called job. In John's

own notes in the pleating he

said he told Binyam Mohamed

it must be obvious to him he

would get more lenient would get more lenient

treatment if he cooperated.

John denies that was a threat of torture but Binyam Mohamed

says in John's presence an

American officer did make

threats.

We should not have any

scapegoating going on here.

He met with an agent of the He met with an agent of the British intelligence in

Pakistan. We cannot blame

that individual because that

individual was following

orders Now led by the

Opposition there is a clamour

for a wider inquiry. It is

vital that we get to the

bottom of whether Britain has

been complicit in torture

either add very tently or

inadvertently we must get to

the bottom of. This I'm still

not convinced that we will do

that purely through a Attorney-General or Attorney-General or a police

investigation. It has not yet

been decided that anyone did

break the law but if they did

then who authorised them or

even ordered them to do it?

New Zealand's former Prime

Minister Helen Clark has been

named as the new head of the

UN development program. A UN

spokeswoman says Ms Clark has

been chosen for her

consensus-building skills and

a commitment to addressing

global an financial

development issues. 8000

people in 166 countries with

a budget of $5 billion US

helping nations achieve goals

the reduce poverty and

disease. Our top story -

the US Treasury Secretary

Timothy Geithner has outlined

plans to strengthen the Government's authority over the financial regulation the financial regulation

system. Talking ever finance

let's check the markets. The

rally continued in the US

The 2009 AFL season began

last night with Carlton and

Richmond replying in front of

a record crowd ever 87,000 at

the MCG. It was meant to to

be battle of the two former premiership winning deep

mates Carlton's Chris Judd

and Richmond's Ben Cousins

but a Leader of the

Opposition-sided affair as

Carlton won. Judd scored two

of Carlton's

of Carlton's 22 goals.

Cousins could not manage one

and suffered a ham strength

that could rule him out for

some time. The Indian tennis

authorities have rejected

Australian requests to switch

their Davis Cupty away from

Chen eye because of security

concerns. Steve Woods says

the Federation is conducting

its security assessment ahead

of the match in May but the

all tennis association

insists Australia's fears are

unfounded. The former

Australian cricket coach John

Buchanan has angered fans at the IPL Kolkata Knight

Riders. They have set fire to

effigies of Buchanan in the

streets after he announced

plans the rotate the

captaincy of the side. This

fan says there list be only one captain and he is Sourav

Ganguly, he is the only

successful captain in India.

In any team where we have

Sourav Ganguly we need not

have four or five captains.

Sourav Ganguly says he is

happy with the coach's

decision to their the

captaincy as it will allow

him to concentrate more on

his batting and bowling. New

Zealand began day two of the

second Test against India in

Napier in a strong position

after reaching 4/151 on day one.

one. Jesse Rider not out on

121, James frankly on 12.

They have made a steady start

taking the score for 4/355. India's Sports Minister says

Delhi preparations for next

year's Commonwealth xwams are

on track. The minister says

jitters about stadium

construction and inadequate

security are unfounded and he

expects the Games to go ahead

without a hitch. Building delays, environmental protests, concerns about

security and the global

financial crisis are all

issues to be overcome by

India in the lead-up to next

year's Commonwealth Games but

the Indian Sports Minister

insists all will be right

when the games begin We

working very hard on the

stadiums, I do not have to go

in the detail and they are

online in time and we will he

they are ready. Last year's

Mumbai terror attacks and

more recently the shootings

of the say land can cricket

team over the border in

Pakistan have raised fear

boss the security for the

Games. The minister says an

evidence will be made the

ensure athletes and fans are

safe we are working on it but

now with a double effort and

all I can say is India has

the will t capacity. Despite

the Government assurance the

IPL saw fit the packets bags

for South Africa. I feeling

go out of India is very bad

Like managing Wimbledon in

England, Australia open tennis, or

tennis, or the UEFA Cup being

played abroad somewhere The

loss is still being bone on

the streets of India but the minister says the pain will

only be temporary and the

tournament will make a return

to its rightful home ground

before too long Nobody

should flutter unnecessarily. The minister

will now visit Sydney on his

third stop in his fact-finding mission. Where fact-finding mission. Where

there is cricket we need good

weather so let's check the

forecast for the next 24 hours.

Let's check again our top

stories. The US Treasury

Secretary outlines plans for tougher regulation of the

American financial system.

North Korea threatens

immediate withdrawal from disarmament talks of its

punish for launching a

satellite. Taiwan's former president has gone on trial

accused of what he says are politically motivated corruption charges. That is

the bulletin for now. For

more news and current affairs

from our region you can check

out our web site.

out our web site. I'm Bev

O'Connor, thank you for watching. See you soon.

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